Morgan Stanley CEO Doesn't Expect More Writedowns

Morgan Stanley Chief Executive John Mack told CNBC that he does not expect the investment bank to take further write-downs on assets beyond what was announced last month.

John Mack on Credit Market

CNBC's Maria Bartiromo asks Morgan Stanley CEO John Mack whether the new superfund is being created as a way to efficiently off-load bad mortgage debt.

"We thought we were conservative," Mack said. "We thought we did take the write-downs at the time. Clearly the market has come back, somewhat, not to where it was prior to August. Given the track we're on now, we think we're in good shape."